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cnbc.com
SEC reportedly subpoenas Wall Street banks over AI hedge fund Situational Awareness's near collapse
The SEC is seeking information from major Wall Street banks about trades and financing tied to AI-focused hedge fund Situational Awareness.
theguardian.com
Gold hits highest level in three months as traders worry about US inflation and bond market jitters – business live
Spot gold touches almost $4,700 an ounce and Bitcoin tops $80,000 while oil prices fall despite threat of heavy US sanctions on Iran and any country trading with itThe US car parts company First Brands Group, which makes things such as spark plugs, wiper blades and motor oil, has gone into liquidation.A US bankruptcy court rejected a complex restructuring plan negotiated between the company, its lenders and unsecured creditors. First Brands had put forward a proposal to pay back creditors by pursuing litigation against insiders.Unfortunately, time was not on the debtor’s side. The sales process did not render the types of sales prices I’m sure everybody wanted. Continue reading...
theguardian.com
Two planned datacentres will have higher UK carbon emissions than ExxonMobil, analysis finds
Exclusive: Buckinghamshire and Bedfordshire sites predicted to emit 4.5m tonnes a year when fully runningThe carbon emissions from just two planned datacentres in England will exceed all of the fossil fuel company ExxonMobil’s UK emissions, analysis has revealed.Experts have said this demonstrates the “serious threat” datacentres pose to the UK’s legally binding climate goals. Continue reading...
cnbc.com
Bitcoin price extends gains, briefly tops $80,000 overnight, as crypto rally gathers pace
Bitcoin initially surged past the $80,000 mark, as renewed inflows into spot bitcoin ETFs and improving risk appetite extended the recent crypto rally.
cnbc.com
New Delhi draws in $73 billion in 11 weeks, powered by special deposits for non-resident Indians
India has attracted inflows of $73 billion in 11 weeks, driven mostly by foreign currency bank deposits made by non-resident Indians.
cnbc.com
Gold hovers near three-month high on dollar weakness, Treasury bond buyback plans
Gold prices fell Tuesday after rising to their highest in over three months.
cnbc.com
Ukraine is targeting Russia’s retail giants. Ozon is the next economic pressure point
Kyiv says the attacks are aimed at disrupting Russian supply chains and inflicting further pressure on Putin's wartime economy.
bbc.co.uk
OnlyFans owner was paid over $700m before his death
The site hosts a range of subscription-based content from cooking to fitness videos, but it is best known for pornography.
theguardian.com
Fishy business: who really profits when sardines go viral? - video
Once a cheap store-cupboard staple, sardines are fast becoming a luxury food item. Last year, #SardineGirlSummer saw influencers promoting the health benefits of sardinemaxxing, while sardinecore became the must-have fashion trend. Now, demand is accelerating just as Morocco’s sardine stock has collapsed, causing shortages on supermarket shelves. The Guardian travels to Matosinhos in Portugal, the cultural home of the sardine industry, to investigate who is profiting from the boom, how it has affected local fishermen, and what sustainability looks like in an era of global heating Continue reading...
theguardian.com
US building twice as much gas-fired capacity as China in AI boom, analysis finds
There has been a 76% increase in under-construction gas-fired projects amid ‘frenzy’ to build more datacentersThe US has surged ahead of China in the building of new gas-fired power generation, largely to feed a boom in artificial intelligence (AI) that is adding vast amounts of planet-heating emissions, a new analysis has found.For decades, China’s rapid economic growth has seen it outpace the US in the addition of new gas power generation but a recent “frenzy” in datacenter construction for AI has reversed this, said Global Energy Monitor (Gem) in its new report. Continue reading...
theguardian.com
US Treasury’s Scott Bessent ‘will lose’ battle with bond markets, former mentor warns
Trump ally should cut budget deficit rather than try to suppress bond yields, says billionaire Stanley DruckenmillerScott Bessent’s attempt to calm the bond markets and push down America’s cost of borrowing have attracted a rebuke from the US Treasury secretary’s former mentor.The billionaire investor Stanley Druckenmiller, who worked with Bessent at George Soros’s fund management firm in the 1990s, has warned that his former pupil is courting danger by trying to suppress US bond yields. Continue reading...
cnbc.com
BlackBerry CEO says robotics is one of its fastest-growing businesses
BlackBerry CEO John Giamatteo says robotics is one of QNX’s fastest-growing businesses as the company expands its software beyond cars.
theguardian.com
From Scotland, I look at England’s water privatisation disaster. I wish you had done what we did | Devi Sridhar
Listening to debate, you’d think bringing English water companies into public ownership was a radical socialist idea. Here, we call it common senseProf Devi Sridhar is chair of global public health at the University of EdinburghEvery few months, there are more shocking headlines about the behaviour of England’s water companies. The latest are about the ever-increasing pay of the chief executives and chief financial officers, which rose to a total of £25.3m across 14 companies over the past year. Meanwhile, people living in England struggle with rising water bills and untreated sewage being discharged (often illegally) on to beaches and in to lakes, and companies such as Thames Water are on the brink of insolvency and want government backing.It’s not surprising that we’re in this situation: England’s water companies have long been accused of putting the interests of shareholders above those of customers. From their perspective, the privatisation of water has been an astounding success. Between 1991 and 2019, dividends to the shareholders of the parent companies totalled £57bn, which averages out to more than £2bn every year. The majority of these private parent companies are foreign-owned, so the profits aren’t even kept in Britain.Prof Devi Sridhar is chair of global public health at the University of Edinburgh Continue reading...
theguardian.com
Year of after-school care now costs £2,800 a child in parts of UK
Bills have jumped 42% in England over the past 10 years – and that excludes the cost of breakfast clubs and extracurricular activities Parents of primary schoolchildren in England will pay 42% more for after-school childcare this year than they did 10 years ago, with annual bills now exceeding more than £2,800 a child in some parts of the UK.A Guardian analysis of data collected by the children’s charity Coram has revealed that the annual cost of after-school care for children aged 5 to 11 in England has risen by 5% over the past year to £2,636. Continue reading...
cnbc.com
Dragon Ball Z theme park gets $7 billion green light
French President Emmanuel Macron and Saudi Arabia's Crown Prince Mohammed bin Salman agree on a $7 bn investment in the anime theme park.
theguardian.com
Heatwave health risks threaten insurer earnings, rating agency S&P warns
Rise in claims linked to heat-related deaths and illness, especially among older people, could drive up premiumsEurope’s intense heatwaves could hit insurers’ earnings as companies face a rise in claims linked to heat-related deaths and worsening health conditions, the rating agency S&P has said.While a long summer of extreme heat will have increased drought and wildfire-related claims, the rating agency said there would also be fallout for life and health insurers, and for the reinsurers who provide financial protection to insurance companies. Continue reading...
bbc.co.uk
More than 70,000 social and affordable homes to be built across England over 10 years
Funding has been granted to Greater Manchester, the West Midlands and West Yorkshire as well as £6bn for London.
bbc.co.uk
Iran says it is 'fully prepared' to counter widened US economic sanctions
The US calls its latest sanctions on Iran an "economic D-Day", but Tehran says it has a plan to address them.
theguardian.com
Lego sales rise as World Cup and F1 ranges prove to be winners
Danish toymaker also scores success with KPop Demon Hunters, Star Wars and botanicals productsBusiness live – latest updatesLego sales have risen by more than a fifth as tie-ups with the football World Cup, Formula One and the hit film KPop Demon Hunters as well as its flower-based and Star Wars kits drive demand.The Danish toymaker said its revenues had increased by 21% to 41.9bn Danish kroner (£4.8bn) in the first six months of 2026, driven by strong growth in the Americas, Europe and the Asia Pacific regions. Sales by its clients to consumers rose by 22%. Continue reading...
cnbc.com
Lego posts record first-half revenue, CEO touts strong sales at high-end and value pricing
Lego CEO Niels Christiansen told CNBC the company is seeing strong sales at both ends of the pricing spectrum.
bbc.co.uk
Burnham refuses to rule out tax rises in autumn Budget
Experts have warned that he and Chancellor John Healey will have little room to manoeuvre in their first Budget.
cnbc.com
Trump targets Iran’s trade lifelines — here are the countries most exposed
Washington's threat of "economic D-Day" collides with a small group of governments that account for most of what remains of Iran's foreign trade.
cnbc.com
CNBC Daily Open: China in the crosshairs, Bitcoin is back and Dragon Ball Z diplomacy
New sanctions against Iran could stoke tensions between the U.S. and China, while risk appetite for Bitcoin returns.
theguardian.com
Lloyds Bank is holding on to our urgently needed £5,500
We want our balance back, but we can’t access the money to pay for essential repairs and settle an electricity billLast November, Lloyds Bank informed me, in my role as treasurer of my parish church, that the church account was to be closed and that I should open a new business account instead. This can only be done online, but a fault with their system prevented me – and local branch staff – from doing so.At the branch staff’s suggestion, I opened the new account with a different bank in early March. Since then, I’ve been trying in vain to get Lloyds to transfer the balance from the closed account. Continue reading...
cnbc.com
Shein targets $27 billion Hong Kong IPO — a fraction of its 2022 valuation
Shein is planning to raise up to $13.86 billion in Hong Kong dollars ($1.77 billion) in its initial public offering, according to a filing on Monday.
theguardian.com
‘Petty grievances’ and an alleged troublemaker: unsealed Murdoch court documents give rare glimpse into bitter succession battle
Rupert Murdoch said in newly released correspondence that it would be a disaster if his media empire fell into the ‘wrong hands’A year ago, Rupert Murdoch resolved the long-running fight over which of his children would control his sprawling media empire, ending a bitter legal battle and anointing his eldest son, Lachlan, as his successor.Now, court documents have offered a rare glimpse into the family’s clashes before the decision, revealing the patriarch’s view of son James as a troublemaker who had to be ousted from the business and detailing tensions between Murdoch’s four eldest children and their airing of “petty grievances” about their father. Continue reading...
bbc.co.uk
The Gurkha families fighting for their pensions
Gurkhas who retired before 1997 receive far less than their British Army counterparts.
bbc.co.uk
Drought leaves 'barely any apples' to make cider
Some orchards are harvesting just a 10th of their usual crop, and facing an uncertain future.
theguardian.com
‘Never seen this level of objection’: Scotland pushes back against datacentre boom
Holyrood ‘inching towards moratorium’ amid concerns over massive proposed developments in Auchtertool and beyondIn a village 21 miles north of Edinburgh, a real estate consultancy plans to build a datacentre larger than the village itself – 35 metres high, with an area larger than 100 football pitches.Billed as the second-biggest datacentre in the world, the development in Auchertool, Fife, has attracted 1,600 objections. Continue reading...
theguardian.com
Canadians do not seek a trade war – but nor will we be bullied by Donald Trump | Jen Gerson
A fundamental rupture in the values that have united North America is not a problem that can be wished away: this is a warning to the western allianceThe Canadians are exceedingly angry. I realise this can sometimes be difficult for foreigners to deduce, given our national struggle to express the full range of human emotion outside ice hockey riots. However, let me assure you that the prime minister Canadians saw take the stage on Saturday morning in the wake of the collapse in trade negotiations with the US was a Mark Carney practically vibrating with fury.“You’re at war when you get attacked. We got attacked,” he said, in a rare press conference that was as candid and clear as he ever tends to be. “That’s fine … We’ve got the reserves, we’ve got the resilience, we’ve got the plan, we’ve got the focus. We’re gonna respond, we’re going to focus on what we can control and what we’re going to build.”Jen Gerson is a Canadian commentator and co-founder of The Line. She lives in Calgary, Alberta Continue reading...
bbc.co.uk
Songs created by AI banned from Australia's music charts
The move comes weeks after a DJ admitted using AI to remix a Madonna song that topped the Australian charts.
cnbc.com
Xpeng shares sink as weak delivery forecast overshadows $6.3 billion robot unit valuation
Xpeng shares slid after weak delivery guidance, even as its nascent robotics business secured a valuation nearly matching that of its core EV business.
theguardian.com
The other Post Office scandal: how organised crime launders money on the high street
Hundreds of millions of pounds of dirty money are being deposited at post offices every year. So why are the police reluctant to investigate the scale of the problem?Last chance to buy the summer issue of The Long Read magazine, now with 15% off. Click here to order Leicestershire police won’t say who first told them about Jigar Gheewala, but you can see why, once they had heard of him, they decided to find out more. Gheewala was unemployed, had no apparent income, yet lived in a £1.3m house and sent his three children to private school. “He was a declared bankrupt, with a bank account that was absolutely not reflective of what it should be,” said financial crime supervisor Laura Panter of Leicestershire police’s economic crime team. “That was our starting point.”Over the course of 2020, despite being on benefits, Gheewala’s bank account received more than £880,000 in cash in 200 different deposits. He was, it turned out, a money launderer, but not the kind you’ll see in the movies. Gheewala’s deposits had been made not in Liechtenstein or on Grand Cayman, but at various post office branches in Leicester, one thick wodge of banknotes after another. Continue reading...
cnbc.com
Porsche inks $1.5 billion deal for AI deployment with India’s largest IT services firm Tata Consultancy
Indian IT services giant TCS has secured a $1.5 billion contract to deploy AI for German sports carmaker Porsche.
bbc.co.uk
US-Canada trade war escalates as Trump threatens tariff hike on vehicles
Mark Carney accused Trump of wanting to "destroy" Canada's auto industry, and said he would only resume trade talks if the US comes with the "right attitude".
bbc.co.uk
How Canada could hit back to hurt the US economy - and Trump
What leverage does Canada, which sells about 70% of its goods to the US, actually have in this spiralling trade dispute?
theguardian.com
China is the biggest buyer of Iran’s oil. Could US sanctions threaten those ties?
The US has put the world on notice to cease doing business with Iran, but experts say Washington is wary China could retaliate against any sanctionsThe US has unveiled an expansion of sanctions that it says will cut off Iran’s economic lifeline but stopped short of the most punishing measures, instead putting the world on notice to cease doing business with the Islamic republic.Treasury secretary Scott Bessent warned other countries would need to sever business ties with Iran or risk being forced out of the dollar-based financial system. He previously urged cooperation from China – the biggest buyer of Iranian oil for several years – although the US blockade of Iran’s ports, renewed in mid-July, has already cut much of the Iranian oil flows to China. Continue reading...
cnbc.com
CNBC Daily Open: Washington escalates on two fronts; Nvidia earnings in focus
Markets are bracing for more tests this week, including Nvidia's earnings, an inflation reading, and the Fed's Jackson Hole symposium.
theguardian.com
From mixed martial arts to mechanical dogs: the World Robot Conference 2026 – in pictures
More than 3,000 products were shown at the 2026 World Robot Conference in Beijing as China showcased its rapidly growing robotics industry.The event, which ran from 19-23 August, showcased the latest advances across the robotics industry, from humanoid robots to embodied intelligence and cutting-edge components Continue reading...
bbc.co.uk
Nearly three million Teslas recalled in China over hidden door handles
Other brands affected by the recall include Chinese carmakers XPeng, Xiaomi and Geely.
cnbc.com
Trump says U.S. will hike Canada auto tariffs to 50% as trade war escalates
President Donald Trump said the U.S. will raise tariffs on imports of cars, trucks and auto parts from Canada to 50% on Jan. 1, 2027.
bbc.co.uk
'What you see is what you pay' - why some US restaurants are banning tips
Tips are central to US dining culture but some eateries think that they are unfair.
bbc.co.uk
New 10p coin enters circulation - will you spot one?
The coin has been designed to feature King Charles III and a Scottish grouse close to extinction.
cnbc.com
CNBC's The China Connection newsletter: Robots need help learning human skills. These AI companies are rushing to meet the demand
Humanoid robots still take a long time to complete human tasks. Several startups in China are trying different ways to collect and use training data better.
cnbc.com
California AG Rob Bonta cancels Paramount settlement meeting, citing 'lack of good faith'
California AG Rob Bonta was scheduled to meet with Paramount representatives on Monday, he said, but canceled the meeting.
cnbc.com
Yields decline on CNBC report Treasury could use General Account to fund buybacks
Treasury yields fell Monday as investors await Federal Reserve Chair Kevin Warsh's keynote speech at Jackson Hole later this week.
cnbc.com
Crypto extends gains after biggest 3-day rally since 2023
Bitcoin and crypto stocks extended their rally after the flagship cryptocurrency broke out of its trading range.
bbc.co.uk
Manga-inspired theme park to be built near Paris
The construction of three new parks was given the green light after a €6bn investment from Saudi Arabia.
theguardian.com
Trump announces new 50% tariff on Canadian cars, trucks and steel
Move is latest deterioration in trade relations between neighbors with historically strong economic tiesDonald Trump announced a new 50% tariff on automobiles and crucial raw materials from Canada, the latest deterioration in trade relations between the two neighbors with historically strong economic ties.The US president said that the increased tariffs would start on 1 January 2027 on all cars, trucks, automobile parts and steel. He also derided the nation’s tariffs on American farmers, writing on social media that Canada has been “ripping off” the US “for years”. Continue reading...
cnbc.com
A massive trade just happened in gold. The options market is buzzing
Twenty minutes after the market opened Monday, someone sold almost 116,000 420-strike calls in the SPDR Gold Shares ETF (GLD) expiring Sept. 18.
cnbc.com
Trump Media CEO defends selling faster access to president's Truth Social posts, says more have signed up
Trump Media interim CEO Kevin McGurn defended his company offering faster access to President Donald Trump's Truth Social posts.
cnbc.com
Nvidia says Groq racks will be online this year following $20 billion purchase
Nvidia's race to manufacture Groq chips and make them available to customers highlight the growing importance in AI of low-latency inference.
theguardian.com
Problems brewing for the proper pint as Camra membership falls
Cost of living has hit campaign group while multinationals are threatening to squeeze out independent breweriesFor centuries, the wooden real ale pump has been the hallmark of a good British boozer. But now problems are brewing for the proper pint, as the Campaign for Real Ale has seen its membership sink to an eight-year low and its accounts show it is firmly in the red, making an £800,000 loss last year.Real ale is a traditional draught cask beer, a “living” product that is produced and stored in its cask. It differs from a cold, fizzy lager, in which the yeast is killed and carbon dioxide is added. Real ale contains live yeast so it continues fermenting until it is served. Continue reading...
bbc.co.uk
Graduate job vacancies drop by almost 50% in a year, survey suggests
Job site Adzuna said the number of graduate vacancies was the lowest since 2016
bbc.co.uk
Rail companies sued for £5m over oil spill caused by derailment
More than 400,000 litres of fuel spilled in the area causing an "environmental disaster".
cnbc.com
From Nvidia earnings to trade war tape bombs, a simple strategy could be this week's best bet
Mike Khouw gives a low-risk options strategy to play the next few weeks.
cnbc.com
Goldman Sachs partner warns of 'huge danger' in letting AI replace bankers' reasoning skills
Goldman Sachs is embracing AI, but one of its senior tech leaders warns that it comes with an unintended risk: weakening the reasoning skills of future bankers.
theguardian.com
Households in Great Britain ‘could owe energy suppliers £7bn by end of year’
After higher prices for winter kick in, energy debt unpaid for more than 30 days likely to rise, says Energy UKHouseholds in Great Britain could owe their energy suppliers as much as £7bn by the end of the year after higher gas and electricity prices forecast for the winter kick in, an industry group is warning.Domestic energy debt and arrears climbed by about £500m over the past year to a record £6bn at the end of June as the Middle East conflict continued to stoke rising gas market prices. Continue reading...
bbc.co.uk
Coin hidden in 1971 earns finder free pint of beer
The card, discovered by Ellie Mead in Bicester, promised "one pint best beer if penny returned".
bbc.co.uk
Demand soars for free school uniform, says charity
Doreen's repurposes old uniforms and gives them to families in Hull and East Yorkshire for free.
theguardian.com
Netflix, Disney+ and Amazon price rises in western Europe ‘highest in world’
World’s largest streaming services have also increased subscription costs repeatedly in US, research findsBusiness live – latest updatesSubscribers to Netflix, Disney+ and Amazon Prime Video in western Europe have faced higher price increases than in any other market in recent years, according to research.Over the past four years the world’s largest subscription video streaming services have dramatically changed their business models introducing lower-priced, basic advertising tiers to attract new subscribers, while also increasingly monetising users willing to pay more for a premium experience. Continue reading...
cnbc.com
Bessent could tap near $1 trillion Treasury General Account to fund bond buybacks, sources said
Using the TGA would provide the Treasury with considerable firepower to influence long-term bond yields.
theguardian.com
Thames Water creditors accused of ‘shuffling chairs on Titanic’ with plan for new board
Campaigners say proposal for £10bn rescue deal in bid to avoid nationalisation is a ‘cosy stitch-up’Business live – latest updatesThe group of creditors pursuing a rescue bid for Thames Water have been accused of shuffling the deckchairs on the Titanic after proposing an overhaul of the stricken utility’s board.In a bid to stave off temporary nationalisation by Andy Burnham, the lenders said they would appoint Liz Barber, the former chief executive of Yorkshire Water, and Clive Selley, the former chief executive of network operator Openreach, as directors if they are allowed to take formal control of the company. Continue reading...
theguardian.com
Up to £464m ‘moved through more than 3,000 UK high street shell companies’
Research shows firms are branded as beauty and convenience but apparently operate in money-laundering and terrorist financing sectorsUp to £464m has “moved through” more than 3,000 UK shell companies branded as beauty and convenience stores but apparently operating in the money-laundering and terrorist financing sectors, a new analysis sets out.The companies – listed as hairdressers, barber shops and salons, on the one hand, or mini-marts and corner shops on the other – show “remarkably similar lifespans” of about six months despite their seemingly different purposes. Continue reading...
theguardian.com
No 10 backs ‘tough action’ if social platforms fail to remove dangerous driving posts after A66 crash
Downing Street condemns ‘utterly disgraceful’ clips and says sites are legally obliged to take them downThe government has given its full backing to Ofcom to take “tough action” against social media platforms that fail to remove videos that depict dangerous driving after a crash that killed seven people near Middlesbrough.The collision in the early hours of Saturday, in which PC Matthew Blades and PC Tom Clough died, occurred when a Volkswagen Passat carrying five people aged between 23 and 17 crashed head-on with a marked armed response vehicle while driving the wrong way on the A66. Continue reading...
cnbc.com
Santoli: Why all the fuss about bond yields is happening now
The textbooks say the cycle high in real yields should act as a restraint on economic growth and equity valuations.
cnbc.com
UPS is investing $2 billion in international, healthcare and supply chain businesses
UPS told CNBC exclusively that the company is investing more than $2 billion into its international, healthcare and supply chain businesses.
cnbc.com
France, UK step up missile support for Ukraine as European leaders meet
France and the U.K. are boosting their missile support for Ukraine following deadly Russian drone strikes.
theguardian.com
The treasury bond mess: is this the demise of the US as a safe haven?
The US is scooping up treasury bonds in an effort to raise their price and push yields down – but it’s not workingThe bond market is driving the Trump administration crazy. Last week, the treasury secretary, Scott Bessent, announced that the government would sharply ramp up its purchase of treasury bonds, in an effort to raise their price and thus push down their yield, which amounts to the interest rate the government pays on its debt.It didn’t quite work as planned. Yields on treasurys fell after Bessent’s bond market intervention but soon bounced back. By Friday afternoon, the yield on the 10-year treasury was back near where it was before the secretary’s announcement. The yield on the 30-year bond was again trading around its highest level in 20 years or more. Continue reading...
bbc.co.uk
'Half my business will be gone' - firms in Canada and US fear trade war
Business owners in both countries are navigating uncertainty and worry as the tit-for-tat import taxes ratchet up.
bbc.co.uk
Pubs and hotels could see business rates reformed after review
The review of how rates are calculated in England and Wales could lead to reform of the system.
theguardian.com
Can Burnham justify giving the go ahead to oil drilling? Yes, but these must be the conditions | Michael Jacobs
Carbon capture and storage could make the Rosebank site compatible with UK net zero commitments – if its owners are willing to pay the priceThe British government must soon decide whether it should give consent to two oil and gasfields, Rosebank in the North Atlantic and Jackdaw in the North Sea. Amid both insecurity of energy supplies and deadly evidence of the climate crisis, the prime minister, Andy Burnham, is facing pressure from the oil and gas industry and unions on one side, and environmentalists on the other.Labour’s manifesto commitment not to approve new drilling licences offers little help, because the fields already have licences, granted by the previous Conservative government in 2022 and 2023. But last year, Edinburgh’s court of session ruled that the environmental impact assessments on which this decision relied were unlawful. The Conservative government had, the court ruled, failed to include the emissions generated when the oil and gas from the fields is burned. The court allowed work to continue on the fields, but a new assessment had to be done and approval sought again.Michael Jacobs is professor of political economy at the University of Sheffield and a former energy and climate change adviser to Gordon Brown when he was prime minister Continue reading...
theguardian.com
‘It’s absolutely criminal’: US tipping culture has reached the UK – and is causing chaos
Service charges used to be a matter of choice, but now consumers feel obliged to pay them for even a cup of coffee. How do we navigate this minefield and who is really profiting?In a London pub, Greg Double was brutally confronted with the reality of Britain’s evolving tipping culture. “I was annoyed about the pint being eight quid, but then when you put service on top, it’s absolutely criminal,” he says. In the past, you might have told the bar staff to keep the change or have a “drink” on you, but since when did we routinely tip in pubs? Or coffee shops? Or, worst of all, at self-service machines? Tip creep is happening.Tipping was awkward enough in the UK when the general rule was 10% at a restaurant, plus anxiety about whether you should tip the hairdresser, babysitter or food-delivery driver. Now, with tipping suggested ever more frequently, US-style, it has become a minefield to Britons. The amounts edge higher – in fancier London restaurants, a 15% service charge is relatively commonplace. And it’s often asked for – in coffee shops for example, when you pay – before any service is delivered. Continue reading...
theguardian.com
Fast-fashion giant Shein sets cut-price $27bn valuation for Hong Kong IPO
China-based retailer swung to $99m loss in first quarter and faces scrutiny over its environmental footprintBusiness live – latest updatesShein, which built a fast-fashion empire on what seemed like impossibly low prices, has been forced to lower its own valuation in a cut-price stock market float, after falling into the red earlier this year.The online retailer will list on the Hong Kong stock exchange on 1 September at a valuation of close to $27bn (£19.8bn), significantly down from a near-$100bn private market peak four years ago. Continue reading...
bbc.co.uk
Shein aims for almost $27bn valuation in stock market debut
The fast-fashion giant's shares are due to start trading in Hong Kong on 1 September.
theguardian.com
UK graduate job vacancies plunge to lowest in a decade
Just 8,383 jobs for people leaving university were advertised in July, says recruitment website AdzunaBusiness live – latest updatesGraduate job vacancies in the UK have sunk to their lowest level since they started being tracked a decade ago, according to a recruiting website.Just 8,383 jobs for people leaving university were advertised in July, Adzuna reported on Monday, down 45% compared with the same point last year and the lowest since the company started gathering the data in 2016. Continue reading...
bbc.co.uk
CrossCountry train services resume after outage
It follows major national rail disruption at the weekend.
theguardian.com
How can I convince NHS pensions that I am not dead?
It has not paid me for months and I am in severe financial distress, and apart from my husband while I try to sort it outI stopped receiving my NHS pension in May and, when I rang to ask why, I was informed that I was deceased.I have repeatedly called to no avail and my emails have received auto-generated responses. Continue reading...
cnbc.com
Singapore inflation hits highest in nearly two years, but undershoots expectations
Consumer prices rose 2.2% last month, compared with the 2.3% expected by economists polled by Reuters
bbc.co.uk
Kids food scheme set to grow after 'crazy' support
The Grumpy Cook in Hastings is set to expand its scheme after receiving £30,000 in donations.
bbc.co.uk
'I didn't speak the Queen's English': Why people worry about their accents
A survey on attitudes towards accents suggests that so-called "accent bias" is still an issue in many workplaces.
bbc.co.uk
How to get £2,000 to play computer games at university
Roehampton University offers students a year;y scholarship to play esports alongside their studies.
bbc.co.uk
Business Daily
European governments and businesses are taking a tougher line on trade with China
bbc.co.uk
Trump says Canada wants 'benefits' of being US state after trade talks collapse
Canada's PM said he was "reluctantly" announcing retaliatory tariffs and accused the US of starting a trade war.
theguardian.com
The lesson from Canada’s collapsed trade talks with the US: negotiation may be futile
Breakdown shows Washington now prioritises its own interests over any semblance of shared economic ground‘No more!!!’: Trump lashes out after US-Canada talks devolve into trade warThe calamitous collapse of trade negotiations between Canada and the United States is a warning to nations worldwide that pursuing any kind of dialogue with the current US administration is doomed at the outset, according to observers who say this recent episode indicates seeking a fair deal is futile.Andrea Lawlor, an associate professor of political science at McMaster University in Ontario, said: “No matter the closeness of the historical relationship, the American administration has signalled that it now prioritises its interests above those of some sort of global economic coordination or harmony. Continue reading...
theguardian.com
Ella Baron on AI and the drought – cartoon
Continue reading...
theguardian.com
The end of Latrobe Valley coal – in pictures
Once the economic lifeblood of the region, Latrobe Valley’s coal industry is in terminal decline. Jesse Thompson’s photographic project aims to document this period of rapid change and examine its legacy‘Extremely effective’ organised campaigns against wind and solar undermining support for renewable energy Continue reading...
theguardian.com
An AI ‘debt bomb’ crisis? No. This isn’t Enron 2.0 | Gene Marks
Fears of a datacenter buildout debt crisis are exaggerated. The risks are different than in the past and they are recoverableSome experts are warning of a looming “debt bomb” crisis because big datacenter builders such as Meta, Oracle, xAI and CoreWeave are not only raising billions to construct these facilities but are also not recognizing these long-term debt obligations on their balance sheets.Should we be concerned? No. I know because I’ve seen this movie before. Continue reading...
cnbc.com
United's next decision: What to do with all those Boeing 737 Max 10 seats it ordered years ago
United Airlines wanted to put lie-flat premium seats on its Max 10 planes once they were certified, but that has been delayed by years.
theguardian.com
Jumpy bond markets make it clear: Trump risks driving US into debt crisis | Heather Stewart
Treasury secretary Scott Bessent’s attempt to calm bond markets is a sign of weakness not strength“Look, there’s nothing magic about that $40tn number,” the US Treasury secretary, Scott Bessent, told CNBC insouciantly last week, as the country’s debt mountain surpassed another bleak record.Yet Bessent’s decision to intervene in government bond markets in an effort to combat soaring yields belied his studied calm in TV interviews – and reignited fears the US may be on the road to a debt crisis. Continue reading...
bbc.co.uk
Struggling households need more help with bills, energy industry says
Industry body Energy UK says the current support for households most in need does not go far enough.
bbc.co.uk
Mayors to get powers to overrule local councils on planning decisions
Housing minister Matthew Pennycook said the change was "essential" for helping mayors "effectively deliver new homes".
theguardian.com
‘The line’s running half-empty’: Llanwern steelworks feels the heat from cheap steel imports
New quotas to protect UK firms and jobs appear to be having opposite effect in products such as galvanised steelAt Tata Steel’s factory in Llanwern, south Wales, production lines that should be running full-time are now falling quiet for parts of the day, with workers being put on to maintenance and cleaning work while machines sit idle.There aren’t enough orders to keep them running all the time, the company says, because of a surge of cheap steel coming from Asian countries that is threatening the viability of several UK sites that make similar products, and risk hundreds of jobs. Continue reading...
theguardian.com
‘Pretty shambolic’: new EU border checks cause stress for UK travellers
Britons report that EES digital entry and exit system has led to frustration, visa mix-ups and long queuesOn top of fears about extreme heat and possible jet fuel shortages, Britons planning summer holidays in the EU this year had another thing to worry about – long queues and waiting times caused by the bloc’s new border checks.The EU digital entry and exit system (EES), which requires non-EU citizens to register and be photographed and fingerprinted on arrival and departure from the Schengen zone, has been technically in full force since April after launching last autumn, but has been beset by teething problems. Continue reading...
theguardian.com
London’s low emission zone is working – so why are cities around the world so cautious about clean air?
Similar initiatives have been launched from Barcelona to Bogotá, but they have misinformation, political pressure and vested interests stacked against themTen years ago, Alastair Harper was an advocate for young people’s health sitting in a stuffy meeting room in London planning an air pollution campaign. “My phone started buzzing,” he said. “I took the call, and then told the room I needed to leave immediately.“I had to get to UCLH [one of London’s major hospitals]. My own child was headed there in a blue-lit ambulance because she was struggling to breathe London’s toxic air.” Continue reading...
theguardian.com
First Bus bans under-16s in Stoke-on-Trent travelling alone after 6pm after disorder
Company says decision comes after spate of antisocial behaviour since free travel scheme was introducedFor some, it is a quotidian nuisance that inevitably occurs when you are in the vicinity of teenagers. For others, it is an expression of modern-day lawlessness among young people.Whatever view you take, antisocial behaviour on public transport has become a hot debate – and with the introduction of free bus travel for kids aged 5 to 15 across England during August, matters have come to a head in Staffordshire. Continue reading...
bbc.co.uk
Les used a QR code to download a parking app - but it was a scam
Scammers set up a monthly subscription of £60 from Les Howard's account after he downloaded an app.
theguardian.com
Drill, Burnham, drill? The oil basin that is a totem for Trump – and a headache for Britain’s new PM
North Sea oil, once the driving force of the UK economy, may be dwindling but it remains a symbol of prestige and a rich resource for political debateWhen oil was first discovered off the north-east coast of Scotland in September 1969, industry folklore has it that the duty superintendent on the rig carefully poured it into a pickle jar commandeered from the canteen and took it back to Amoco’s Great Yarmouth office in Norfolk. There, it was emptied into an ash tray, sniffed and then set alight.From that modest start, North Sea oil – as the huge basin of oil and gas reserves quickly became known – emerged as a driving force of the British economy and a symbol of national power and renewal as the UK emerged from the Opec oil crisis. Continue reading...
bbc.co.uk
Iran-linked hackers behind cyber attack that shut down power plant, reports say
The government says at no point was there a risk to the UK's energy system during the attack in July.
theguardian.com
‘Penchant for bling’: can Sports Direct’s Mike Ashley take a bigger slice of luxury retail?
Frasers billionaire bought Harvey Nichols and increased Hugo Boss stake despite tough times for high-end storesWhat billionaire doesn’t love to splash the cash on a luxury item? Some may buy watches or yachts, but Sports Direct founder Mike Ashley has been snapping up entire brands.Harvey Nichols is the latest bauble to drop into his shopping basket after his company bought the Knightsbridge department store out of administration earlier this month. It sits beside a large slice of Hugo Boss, a chunk of Mulberry, a snippet of Burberry, the remains of Agent Provocateur and the entire Flannels and House of Fraser chains. Continue reading...
bbc.co.uk
Economic adviser O'Neill rules out government job but backs PM's devolution plans
Lord O'Neill, former chief economist at Goldman Sachs, was tipped to become Andy Burnham's chief economic adviser.
bbc.co.uk
More students planning to live at home for university over 'insane' living costs
Students like Jessica say they worry about missing out on student life, but feel they have no choice but to stay at home.
bbc.co.uk
Watch: How does the US national debt affect consumers around the world?
The debt has more than doubled in a decade to reach a milestone $40tn (£29.4tn), Treasury figures show.
bbc.co.uk
Millennials have found it hard to buy homes – but things may be turning a corner
Twenty-somethings are much less likely to own a home than previous generations. But data suggests things may be improving.
bbc.co.uk
Couples share their biggest money disagreements
Candles, haircuts, a Tesla... this week we're asking couples in London: "What's the biggest money disagreement in your relationship?"
bbc.co.uk
How landscape gardening is being electrified
The switch to quieter electric equipment is not going as fast as some would like.
bbc.co.uk
Little Moons co-founder: Don't wait for your product to be perfect
The mochi ice cream company co-founder shares her top tips, job highs and lows, and what a perfect Sunday looks like.
bbc.co.uk
The critical tech staying safe by going underground
The war in Ukraine has spurred people to consider putting vital infrastructure underground.
bbc.co.uk
Protein or pickled garlic? What's new in ice cream
There's a constant battle in ice cream to come up with new flavours and to keep costs down.
bbc.co.uk
Why Japanese firms are being so slow to use AI
Japanese risk aversion and conservatism blamed for slow AI take-up by the country's business sector.
bbc.co.uk
Tokenomics: Why making AI pay is tricky
Buyers of AI services are struggling to control costs and sellers are not sure how much to charge.
bbc.co.uk
'I started in my 20s and made £8,000': Why women are often better investors than men
Women can make higher returns but only about a quarter of UK women have investments, compared with about 40% of men.
bbc.co.uk
'You could smell someone' who worked at Raleigh
The company was more than just a employer. For years, it was part of the fabric of Nottingham.
bbc.co.uk
Why airlines are warning over lithium-ion batteries
The airline industry wants passengers to be careful when travelling with lithium ion batteries.
bbc.co.uk
Argos is getting a makeover - but can it attract new shoppers?
The retailer has been around for 50 years but struggled to compete with newer rivals such as Amazon. Can its new owners turn it around?
bbc.co.uk
Why the UK is dithering over what to do about e-scooters
Why is it taking so long for the government to regulate them, and what are the consequences of delay?
bbc.co.uk
Why Gen Z are planning for life without a state pension
Many younger people do not believe the state pension will exist when they are older
bbc.co.uk
The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
bbc.co.uk
How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
bbc.co.uk
The £5 coffee that tells a story of global economic turmoil
Coffees at some city centre outlets now cost £5. It's a story of tariffs, the climate, Gen Z cultural tastes, and savvy coffee farmers playing the market, writes Faisal Islam
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